Breaking News

Investors Believe in Boldface

June 26, 2013

Beauty licensing company The Boldface Group, Inc. raised $1.5 million from "certain accredited investors, led by an institutional investor," by selling its 8% senior secured convertible notes with a 12% original issue discount and five-year warrants to purchase approximately 24.7 million shares. Net proceeds from the offering are expected to be used for general corporate purposes.

The Notes are convertible into shares of common stock at any time prior to maturity at $0.068 per share and will mature on December 1, 2014. The conversion price of the Notes is subject to a "full ratchet" and other customary anti-dilution protections. The Notes require mandatory redemption payments beginning on June 1, 2014 and contain customary affirmative and negative covenants of the Company. The Warrants are exercisable at $0.082 per share and contain "weighted average" and other customary anti-dilution protections.

In connection with the closing of the offering, holders of the Company's 12% secured convertible notes in the principal amount of $3,380,000 and related warrants to purchase 13,520,000 shares purchased from the Company in December 2012 and March and April 2013 agreed to convert their notes and exercise their warrants on a cashless basis, respectively.

The company markets such products as Kardashian Beauty By Kourtney, Kim & Khloe, Uglydoll and Malo by Mario Lopez.

  • Fit for Fitness

    Fit for Fitness

    Christine Esposito, Associate Editor||February 21, 2017
    Kinx Active is a new brand targeting women who want beauty products that can stand up to their fitness routines.

  • Cargo Says Aloha To Spring/Summer

    Cargo Says Aloha To Spring/Summer

    Christine Esposito, Associate Editor||February 13, 2017
    Cargo Cosmetics has rolled out its new Spring/Summer collection with Hawiianan singer Anuhea.

  • Cashing In on Coconuts

    Cashing In on Coconuts

    Melissa Meisel, Associate Editor||February 6, 2017
    Organic to Green is making waves for its new oils and eco-friendly packaging.

  • Trade Association Directory 2017

    February 2, 2017
    Contact details of trade associations that serve various segments of our industry and are mentioned frequently in Happi.

  • What the Halal  Is Going On?

    What the Halal Is Going On?

    Imogen Matthews , In-Cosmetics||February 2, 2017
    Demand for these beauty products is surging thanks to a fastgrowing Muslim population.

  • Relief for Sensitive Scalps

    Relief for Sensitive Scalps

    Guadalupe Pellon and Annette Mehling , BASF||February 2, 2017
    BASF researchers detail the attributes of the company’s highly effective hair care system focusing on scalp sensitivity.